Monday 17 February 2020 12:44 pm

Former US financial regulator ‘to step down’ from HSBC’s board

A former senior US financial regulator is set to step down as a director of HSBC, as the chairman of Europe’s biggest lender continues a board shakeup. 

Kathleen Casey, a former commissioner of the US Securities and Exchange Commission, will leave HSBC’s board at its annual general meeting in the spring, Sky News reported. 

Read more: HSBC will not appoint new boss until after strategy shake-up

Casey’s departure is expected to be confirmed alongside the bank’s full-year results tomorrow, when HSBC will outline an extensive strategy overhaul.

The bank is also set to be grilled on the progress of its search for a new permanent chief executive. Noel Quinn has served as HSBC’s interim chief executive since John Flint was ousted as boss last summer. 

Earlier this month, it emerged that HSBC would not name a new chief executive when it unveils its strategic overhaul, despite expectations from some investors that a new boss would be in place before the plan is announced. 

Chairman Mark Tucker has previously said the search to replace Flint would take between six and twelve months. 

Read more: HSBC set to axe senior managers in strategy shift

Quinn, who has spearheaded the strategy update, has said he wants to take on the top job on a permanent basis.

A shortlist of candidates for the role has now been drawn up by board members, Sky News reported. HSBC declined to comment on the reports.

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